#CryptoCorner #Podcast 558: #Stocks discussed: (NYSE: $V) (NasdaqCM: $FTFT) (TSXV: $NDA.V)

 

 

 

#CryptoCorner #Podcast 558: #Stocks discussed: (NYSE: $V) (NasdaqCM: $FTFT) (TSXV: $NDA.V)

 

Visa to Accept USDC Transactions, Future FinTech Signs Agreement to Purchase 20,000 Miners, Neptune Confirms Delivery of First Tranche of 1,500 Miners, and PwC Reports More than Double Increase in Crypto M&A Value Last Year

 

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Visa (NYSE:V) has announced the acceptance of payments in USD Coin (USDC), a stablecoin backed by the US dollar, wherein transactions will be settled with Visa over the Ethereum (ETH) blockchain. This is being piloted with Visa partner Crypto.com. Visa’s Chief Product Officer, Jack Forestell, commented:

 

"Crypto-native fintechs want partners who understand their business and the complexities of digital currency form factors. The announcement today marks a major milestone in our ability to address the needs of fintechs managing their business in a stablecoin or cryptocurrency, and it's really an extension of what we do every day, securely facilitating payments in all different currencies all across the world."

 

Blockchain-based e-commerce firm Future FinTech Group Inc. (NasdaqCM:FTFT) has signed a framework agreement with Nanjing Shunru Electronic Technology Co., Ltd. to purchase approximately 20,000 Antminer bitcoin mining machines. This will provide a combined 200 Petahash per second (PH/s) hash rate, accounting for roughly 0.12 percent of Bitcoin's (BTC) total hash rate capacity. Future FinTech CEO, Shanchun Huang, said:

 

"The recent sharp increase in the price of Bitcoin has provided us with the opportunity and economic incentive to develop an encrypted digital currency mining business. The signing of the mining machine acquisition frame agreement is the first step for us to move into the bitcoin mining field. We will continue to optimize the Company's comprehensive platform in the field of cryptocurrency mining and blockchain technology services to maximize returns to our shareholders."

 

Neptune Digital Assets Corp. (TSXV:NDA) has confirmed the April 12 delivery date for its first tranche of 300 of the previously announced 1,500 ASIC bitcoin mining machines. According to the press release, these will produce approximately 50 terahash per machine, or 15 petahash per second for the set of 300. Neptune CEO Cale Moodie said:

 

“We are very optimistic on the future of our growing revenue channels and want investors to know that we are committed to execution of these plans. We will continue to scale our mining operations to add to our existing income streams as we move through 2021.”

 

PwC reports that the total value of mergers and acquisitions in the crypto space more than doubled in 2020, reaching $1.1 billion from 2019, according to Bloomberg. This saw the average deal size increase from $19.2 million in 2019 to $52.7 million in 2020.

 

Sam Mowers, Investorideas

 

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